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The freelancer platform calls itself the "world's work marketplace," helping bridge companies and freelancers together. Upwork has 539 corporate employees, 1,372 freelancer or contract workers, with workers in over 800 cities. The company's revenue for 2020 was $373 million and freelancers with profiles on the platform earned $2.3 billion in 2020. Upwork conducted a study of the independent workforce in America and found 59 million Americans performed freelance work in 2020, an increase of 2 million freelancers since 2019. Upwork plans to help the next generation by keeping the platform free and accessible while continuing to work with educational partners.
Persons: Hayden Brown, Brown, Beerud Sheth, Srinivas Anumolu, Upwork, I'm, they've, they're, Slack Organizations: Business, Service, workloads Locations: Jersey City , New Jersey, America
Prime Peke! Wasabi the Pekingese wins Westminster dog show
  + stars: | 2021-06-14 | by ( The Associated Press | ) www.nbcnews.com + 0.00   time to read: +5 min
TARRYTOWN, N.Y. — The flavor of the year at the Westminster Kennel Club dog show: Wasabi. A Pekingese named Wasabi won best in show Sunday night, notching a fifth-ever win for the unmistakable toy breed. The Pekingese dog "Wasabi" wins Best in Show at the 145th Annual Westminster Kennel Club Dog Show June 13, 2021, at the Lyndhurst Estate in Tarrytown, N.Y. Timothy A. Clary / AFP - Getty ImagesThe 3-year-old Pekingese, meanwhile, was “pretty nonchalant about the whole thing,” his handler said. She guided Jade’s father, CJ, to a 2016 Westminster best in show win — and lost him last September, when the 7-year-old died unexpectedly of a fungal infection. David Fitzpatrick holds his Pekingese "Wasabi" after winning the Best in Show at the 145th Westminster Kennel Club Dog Show at Lyndhurst Mansion in Tarrytown, N.Y., on June 13, 2021.
Persons: Wasabi, Bourbon, , David Fitzpatrick, Patricia Trotter, ” Fitzpatrick, Malachy, , Timothy A, Clary, Fitzpatrick, Iris Love, Sandra Middlebrooks, Peggy Steinman, , Mathew the, Connor, Jade, Striker, Valerie Nunes, Atkinson, CJ, He’s, Nunes, Jade “, Boy, Rebecca Cross, Mike Segar, Barry Bonds, Cheryl Dugan, didn’t, Rocky, ” Bonds, “ I’ve, I’ve, Bonds, Douglas Tighe, Pennie, Tighe, Kole Brown, Riley, Kurtis Brown, Samantha Brown Organizations: Westminster Kennel Club, American Kennel Club, Westminster, Westminster Kennel, Getty, Garden, AKC, 145th Westminster Kennel, Lyndhurst, Reuters, Fox Sports, Sunday, U.S . Air Force Locations: TARRYTOWN, N.Y, Wasabi nabbed, East Berlin , Pennsylvania, Lyndhurst, Tarrytown, AFP, COVID, Highland, New York City, Madison, Temecula , California, Thailand, Bangkok, Gettysburg , Pennsylvania, Westminster, Brittany, Hope , New Jersey, U.S, San Antonio , Texas
MJ Rodrigeuz wasn’t sure if she was going to have another mainstream role after starring as Blanca on the FX series Pose. “When Pose happened, let’s be real, [I was] a trans girl coming into the industry, not knowing how she’s going to fit in, not knowing how people are going to see her,” she says. Pose, which premiered in 2018 and came to a conclusion this month after three seasons, was her big break. The series followed Rodriguez’s character as the mother of the newly formed House of Evangelista, named after the pioneering supermodel. about the end of Pose and the ways she’s like the Energizer bunny.
Persons: Rodrigeuz, Blanca, let’s, , Maya Rudolph, Rodriguez, Rodriguez’s Blanca, Evangelista, there’s Organizations: Stonewall, Pride Locations: Rudolph’s, Los Angeles, Newark , New Jersey, New York,
GM, Ford are all-in on EVs. Here’s how their dealers feel about it
  + stars: | 2021-06-13 | by ( Bob Woods | ) www.cnbc.com + 0.00   time to read: +9 min
GMAfter years of come-and-gone predictions that battery-powered sedans, pickups and SUVs would replace gas-guzzling, emissions-spewing models, the shift to electric vehicles is revving up. Though he added that because EV sales to date have been concentrated in coastal states, Michigan and Texas, many dealers elsewhere remain in wait-and-see mode. "Dealers are in the business of selling cars and making customers happy, so why wouldn't they want to sell EVs?" EV service will definitely evolve and won't be exactly the same. "Service is critical to what our dealers do today and will be in the future," said Travis Hester, GM's chief electric vehicle officer.
Persons: Tesla, General Motors, Mark Paladino, Ford.com, Jason Mase, Paladino, EVs, Chris Sutton, Sutton, Biden, Mike Stanton, George Mason, Travis Hester, GM's, Rita Case, Rick Case, we've, Case Organizations: General Motors Detroit, Hamtramck Assembly, Hamtramck Assembly Center, GM, General, Ford, Toyota, Volkswagen, Daimler, Hyundai, Fiat Chrysler, Honda, Colonial, EV, Credit Suisse, Bloomberg New Energy Finance, National Automobile Dealers, Yale, George, George Mason Center, Republicans, Republican, ICE, Rick Case Automotive Group, VW, Audi, Mazda, GM GM, GMC Hummer Locations: Hamtramck, Detroit, U.S, Colonial Ford, Danbury , Connecticut, China, Europe, Michigan, Texas, California , New Jersey, New York, EVs, Ft . Lauderdale, Florida, Atlanta
NJ accountants are advising clients to leave the state over high living costs, a survey shows. The NJ Society of Certified Public Accountants said businesses were also concerned about high taxes. Accountants in New Jersey are advising clients to leave the state because of its high living costs and corporate and property tax rates. Seventy per cent of certified public accountants (CPAs) have advised individual clients to leave the state because of the high cost of living, according to a survey by the New Jersey Society of CPAs (NJCPA). And New Jersey residents spend on average 12.2% of their income on state and local taxes, the Foundation said — the third-highest in the US.
Persons: Read, Biden's, Ralph Thomas, Thomas, CPAs Organizations: NJ Society, Certified Public Accountants, Accountants, New Jersey Society of CPAs, CNBC, Tax, Foundation, Sunshine, Jersey's Locations: New York , New Jersey, California, New Jersey, Delaware , Pennsylvania, Florida, North Carolina, South Carolina , Tennessee, Texas, New York
The pan-regional STOXX Europe 600 index rose 0.7% to a record close, posting its sixth straight session of gains and best weekly performance at 1.1% since early May. “There is a concern that eventually you could get some migration out of stocks into bonds,” Meckler said. Benchmark German 10-year bonds fell 3 basis points to -0.28% and were set for their best week of the year. The dollar index rose 0.54%, with the euro fell 0.55% to $1.2102. Oil prices rose to multi-year highs, heading for a third straight week of gains on the improved outlook for worldwide demand as rising vaccination rates lead to a lifting of pandemic curbs.
Persons: “ You’ve, , Michael James, Rick Meckler, ” Meckler, , Jeremy Gatto Organizations: European Central Bank, Federal Reserve, Wedbush Securities, Cherry Lane Investments, Dow Jones, Nasdaq, Japan, Treasury, Brent Locations: Europe, breakeven, Los Angeles, New Vernon , New Jersey, Asia, Pacific, coronavirus, Unigestion
Stocks hover near record highs as bond yields slide
  + stars: | 2021-06-11 | by ( Herbert Lash | Tom Wilson | ) www.reuters.com + 0.00   time to read: +3 min
The ECB’s projections pushed the pan-regional STOXX Europe 600 index up 0.68% to an intraday high and record close at 457.64. Investors are leaning into tech stocks because they don’t use raw materials and productivity rate is higher than other sectors, he said. “There is a concern that eventually you could get some migration out of stocks into bonds. But right now we seem to be at that pre-tipping point where bonds don’t yield enough to scare people out of stocks,” Meckler said. The dollar index rose 0.57%, with the euro down 0.61% to $1.2095.
Persons: Toby Melville, Rick Meckler, ” Meckler, , , Jeremy Gatto Organizations: London Stock Exchange Group, City of, REUTERS, European Central Bank, Cherry Lane Investments, Investors, Dow Jones, Nasdaq, Japan, Treasury, Brent Locations: City, City of London, Britain, Europe, breakeven, New Vernon , New Jersey, Asia, Pacific, coronavirus, Unigestion
Stocks set record highs as bond yields slide
  + stars: | 2021-06-11 | by ( Herbert Lash | Tom Wilson | ) www.reuters.com + 0.00   time to read: +5 min
The pan-regional STOXX Europe 600 index rose 0.7% to a record close, posting its sixth straight session of gains and best weekly performance at 1.1% since early May. “There is a concern that eventually you could get some migration out of stocks into bonds,” Meckler added. U.S. growth-oriented stocks slightly outpaced value stocks as the two styles vied for leadership: big tech stocks added the most upside followed by financial shares. Benchmark German 10-year bonds fell 3 basis points to -0.28% and were set for their best week of the year. The dollar index rose 0.49%, with the euro down 0.51% to $1.2107.
Persons: Brendan McDermid, “ You’ve, , Michael James, Rick Meckler, Meckler, Jack Ablin, ” Ablin, , Jeremy Gatto Organizations: New York Stock Exchange, REUTERS, European Central Bank, Federal Reserve, Treasury, Wedbush Securities, Cherry Lane Investments, Dow Jones, Nasdaq, Cresset Capital Management, Japan, Brent Locations: St, New York City, U.S, Europe, Stocks, breakeven, Los Angeles, New Vernon , New Jersey, Asia, Pacific, COVID, Unigestion
CPAs tell New Jersey clients it's time to move to lower-tax states, survey finds
  + stars: | 2021-06-11 | by ( Lorie Konish | ) www.cnbc.com sentiment -0.99   time to read: +1 min
The beach at Wildwood, New Jersey, on the Jersey Shore on May 27, 2021. Certified public accountants have a message for New Jersey-based clients: It's time to move to a lower-cost state. That's according to a recent survey from the New Jersey Society of CPAs, which found that 70% of professionals surveyed who have clients in the state have advised them to move due to the high cost of living. Meanwhile, 53% of accountants surveyed said they have told business clients in the Garden State to relocate due to the high cost of doing business. "The tax structure here is one of the highest in the country, if not the highest, and that certainly is a negative issue for individuals and for businesses," Thomas said.
Persons: Ralph Thomas, Thomas Organizations: Jersey, New Jersey Society of CPAs, Garden State, Finance Locations: Wildwood , New Jersey, Jersey Shore, New Jersey
Lilly spokesperson Kathryn Beiser and a Justice Department spokesperson declined to comment. The firm also has several lawyers whose reputations would carry weight with the Justice Department and the FDA, including former Attorney General Eric Holder, legal experts said. ANSWERING DIFFERENT QUESTIONSThe company-backed investigation was based on interviews with more than 100 people, the May 20 memo to Lilly employees said. The memo denies the company made false statements to the FDA. The company memo said Lilly couldn’t substantiate allegations that employees faced retaliation for refusing to make false statements.
Persons: Eli Lilly, Mike Segar, Lilly, Burling, Nellie Clark, Kathryn Beiser, Clark, Covington, it’s, , Paul Pelletier, Eric Holder, Gerald Masoudi, Masoudi, Amrit Mula, Mula, Trump, New Jersey Democrat Bob Menendez, ” Menendez Organizations: Reuters, U.S . Justice, Company, REUTERS, U.S . Food, Drug Administration, Washington D.C, Covington, Burling LLP, Justice Department, U.S . Securities, Exchange Commission, Justice, U.S, Department, FDA, New, New Jersey Democrat Locations: New Jersey, Branchburg , New Jersey, , New Jersey, Washington, Covington, Mula, U.S
But train buffs know better; the Lackawanna Cutoff is key to a proposed restoration of rail service between New York City and Scranton, Pennsylvania - President Joe Biden's hometown. Walsh, president of the North Jersey Rail Commuter organization, has spent years trying to restore passenger rail service to the abandoned line. But in the late 1950s and 1960s, as the United States increasingly turned to cars for transportation, rail service declined. Long an advocate of Amtrak and passenger rail, the Democratic president in March announced a big expansion plan for Amtrak as part of his infrastructure proposal. In Scranton, the business community supports the project, according to Greater Scranton Chamber of Commerce President Bob Durkin.
Persons: Joe Biden, Kevin McCarthy, Mitch McConnell, Nancy Pelosi, Chuck Schumer, Kevin Lamarque, Joe Biden's, Biden, , Chuck Walsh, Walsh, Miles, Long, ” Larry Malski, Malski, Scranton, Shelley Capito, Paul Lewis, Bob Durkin, , Durkin Organizations: White, REUTERS, Amtrak, That's, Lackawanna & Western Railroad, North Jersey Rail, New Jersey Transit, Democratic, Pennsylvania Northeast Regional Railroad Authority, Scranton Amtrak, Republicans, ENO Center for Transportation, Greater Scranton Chamber of Commerce, New Jersey Transit's, Thomson Locations: Washington , U.S, New Jersey, Lackawanna, New York City, Scranton , Pennsylvania, New York, Scranton, Pennsylvania, Delaware, Buffalo , New York, Chicago, Columbia , New Jersey, United States, U.S, West Virginia, Washington, Greater Scranton, Europe, Japan, China
An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. If the Justice Department concludes that an internal investigation was thorough, it can result in a non-prosecution agreement with few, if any, penalties, the experts said. The firm also has several lawyers whose reputations would carry weight with the Justice Department and the FDA, including former Attorney General Eric Holder, legal experts said. ANSWERING DIFFERENT QUESTIONSThe company-backed investigation was based on interviews with more than 100 people, the May 20 memo to Lilly employees said. The company memo said Lilly couldn’t substantiate allegations that employees faced retaliation for refusing to make false statements.
Persons: Eli Lilly, Mike Segar, LLY.N, Lilly, Burling, Nellie Clark, Kathryn Beiser, Clark, Covington, it’s, , Paul Pelletier, Eric Holder, Gerald Masoudi, Masoudi, Amrit Mula, Mula, Trump, New Jersey Democrat Bob Menendez, Menendez Organizations: Company, REUTERS, U.S . Justice, Reuters, U.S . Food, Drug Administration, Washington D.C, Covington, Burling LLP, Justice Department, U.S . Securities, Exchange Commission, Justice, U.S, Department, FDA, New, New Jersey Democrat, Thomson Locations: Branchburg , New Jersey, New Jersey, , New Jersey, Washington, Covington, Mula, U.S
Advising SoftBank at the meeting was Jeff Sine, a longtime media investment banker and cofounder of The Raine Group. A record year for RaineIn Raine's investment-banking business, Jeff Sine was one of the top dealmakers in America in 2020. After facing off as rival media bankers for years, Joe Ravitch and Jeff Sine banded together to found The Raine Group. For Sine, Masa could hardly have been a better client to have throughout Raine's 12-year run. Masayoshi Son and Rupert Murdoch, News Corp's founder, were both clients of Jeff Sine and also collaborated on deals around the turn of the century.
Persons: Jeff Sine, Rupert Murdoch, , Masa, Donald Trump, Trump, SoftBank, Trump's, Joe Ravitch, behemoths, Goldman Sachs, Morgan Stanley, Ari Emanuel, Sine, Obama, Masa's, Raine, Foxconn, could've, wasn't, WeWork Adam Neumann, who's, Jeff, Eric Hippeau, Lerer, Neumann, Raine didn't, Ben Gabbe, Ravitch, Steve Ballmer, Joe Tsai, bloomer Sine, bloomer, Cromwell, Margaret Thatcher, Fields, Morgan Stanley's, Steve Rattner, It's, I've, Sine's, there's, pedigreed schmoozers, didn't, chummed, Tony, That's, Emanuel, Masayoshi Son, Bill Ziff, Ziff, Davis, SoftBank didn't, Sheldon Adelson, Hippeau, ADRIAN DENNIS, Rupert Murdoch's, Jeff didn't, Chris Harland, Jonathan Knee, Morgan, Harland, Murdoch, he'd, Paul Taubman, Ken Moelis, Moelis, Jeff McDermott, Salomon Brothers, Ken, McDermott, Nomura Greentech, Aryeh Bourkoff, Navid Mahmoodzadegan, Mary Meeker, " McDermott, Sine wasn't, Samira, JASON AUGUSTINE, Patrick McMullan, they'd, Robert Redford, Ravitch's, Joe, Endeavor's, William Morris, meanwhile, Marc Andreessen, Egon Durban, Alipay —, Adam Neumann, Elliott, it's, Jeff — I'm, SoftBank's, Knee, Raine Group's, DraftKings, Beachbody, Huuuge, Jason Schretter, Colin Neville, Houlihan Lokey, Perella Weinberg Organizations: UBS, Time Warner, Viacom, Sprint, Mobile, Verizon, AT, Republican, Trump, Trump Tower, Masa, Vice Media, Raine Group, Raine In, The, New York Times, Los Angeles Clippers, Brooklyn Nets, UFC, F.W, Woolworth, Ivy League, American University, State Department, University of Southern, Sullivan, US Securities and Exchange, British Telecom, Manhattan's Rockefeller Center, Mitsubishi Estate, Lazard, Endeavor, World Wrestling Federation, WWE, Asahi Shimbun, PC Magazine, Davis Publishing, Ziff, Davis, Trade, Yahoo, Computer Shopper, Corp's, Getty, Rupert Murdoch's News Corp, SoftBank, UBS Masa, Forbes, News Corp, CBS, AOL, Moelis, Telewest, Alibaba, Sine, Sundance Channel, Cablevision, Goldman, Wall Street, LA Clippers, soccer, Manchester City, Silver, Ant, Federal Communications Commission, Justice Department, Vision Fund, Elliott Management, Nvidia, Columbia Business School, Univision, Televisa, Nasdaq, Evercore, Perella Weinberg Partners Locations: Trump, Midtown Manhattan, Sine, America, Korean, Tokyo, New Providence , New Jersey, Washington , DC, University of Southern California, New York, London, United Kingdom, Morgan, West, Raine, SoftBank's Tokyo, Masa, Forstmann, Comdex, Yahoo Japan, AFP, DLJ, San Francisco, Alibaba, Yahoo China, Sagaponack , New York, Abu Dhabi, Mubadala, New, SoftBank, Raine's, SoftBank's, SPAC, Spanish, Polish, Warsaw
U.S. wholesale inventories unrevised in April
  + stars: | 2021-06-09 | by ( ) www.reuters.com sentiment -0.96   time to read: +1 min
REUTERS/Shannon StapletonU.S. wholesale inventories increased strongly in April as businesses continued to replenish stocks to meet pent-up demand, supporting expectations for robust economic growth this quarter. The Commerce Department said on Wednesday that wholesale inventories rose 0.8% as estimated last month. Wholesale inventories increased 5.2% in April from a year earlier. Economists polled by Reuters had forecast that April's increase in wholesale inventories would be unrevised. The component of wholesale inventories that goes into the calculation of gross domestic product also increased 0.8%.
Persons: Shannon Stapleton Organizations: REUTERS, Commerce Department, Reuters, Thomson Locations: Robbinsville , New Jersey, U.S
U.S. wholesale inventories rise solidly; supply constraints loom
  + stars: | 2021-06-09 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Shannon StapletonU.S. wholesale inventories increased strongly in April as businesses replenished stocks to meet pent-up demand, but supply constraints could make it harder to maintain the current pace of inventory rebuilding. The Commerce Department said on Wednesday that wholesale inventories rose 0.8% as estimated last month. Wholesale inventories increased 5.2% in April from a year earlier. Economists polled by Reuters had forecast that April's increase in wholesale inventories would be unrevised. Though wholesale inventories of motor vehicles rose in April, they were down 3.3% on a year-on-year basis.
Persons: Shannon Stapleton, Matt Colyar, Mike Englund Organizations: REUTERS, Commerce Department, Reuters, West Chester Pennsylvania, Manufacturers, Thomson Locations: Robbinsville , New Jersey, U.S, West Chester, Boulder , Colorado
Amid the controversy, efforts to have the bill introduced before the end of the state's legislative session this week failed. For example, while 32BJ rejects the New York bill, SEIU President Mary Kay Henry in the past said she would back workers' demands in reaching a deal with companies. Similarly, the New York chapter of the AFL-CIO, the largest U.S. labor federation, backs the compromise proposal, while members of its Colorado chapter said they were opposed to bargaining agreements with the gig companies. In some states the companies hope for buy-in from labor groups, company and union officials said. The companies say they pursue tailored policies for each state to combine flexibility for their mostly part-time workers with benefits and protections.
Persons: Mike Blake, Kyle Bragg, 32BJ's, Uber, 32BJ, Mary Kay Henry, Biden, John Zimmer, Wilma Liebman, Andy Stern, Stern, Britain's, Lyft's Zimmer, Kjersten Forseth Organizations: San Diego State University, REUTERS, Transport Workers Union, Service, Union's, New, SEIU, AFL, U.S . Labor Department, PRO, Republican, U.S . Senate, National Labor Relations Board, U.S . Chamber of Commerce, Teamsters, Colorado AFL, CIO, Thomson Locations: San Diego , California, U.S, New York, Albany, United States, Colorado, Massachusetts , New York , New Jersey , Illinois, Washington, California, Seattle, New York City
U.S. signs $1.2 bln deal for 1.7 mln courses of Merck's experimental COVID-19 drug
  + stars: | 2021-06-09 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
The Merck logo is seen at a gate to the Merck & Co campus in Rahway, New Jersey, U.S., July 12, 2018. REUTERS/Brendan McDermidMerck & Co Inc (MRK.N) said on Wednesday the U.S. government has agreed to pay about $1.2 billion for 1.7 million courses of its experimental COVID-19 treatment, if it is proven to work in an ongoing large trial and authorized by U.S. regulators. The oral antiviral treatment, molnupiravir, aims to stop COVID-19 from progressing and can be given early in the course of the disease, similar to Tamiflu to treat influenza. The treatment course being tested in the trial is an oral dose given every 12 hours for five days. The drugmaker announced a change of plans and said in April it would no longer pursue use of molnupiravir in hospitalized patients.
Persons: Brendan McDermid Merck, Ridgeback, Merck Organizations: Merck, Co, REUTERS, Co Inc, U.S, molnupiravir, U.S . Department of Health, Human Services, Pfizer, Roche, drugmaker, Thomson Locations: Rahway , New Jersey, U.S
Chris Harrison exits 'Bachelor' franchise after racism furor
  + stars: | 2021-06-08 | by ( ) www.reuters.com sentiment -0.93   time to read: +2 min
REUTERS/Mark MakelaThe host of television's popular "Bachelor" dating show franchise is leaving after almost 20 years, ABC Entertainment said on Tuesday, following a furor over racially insensitive remarks. “Chris Harrison is stepping aside as host of 'The Bachelor' franchise. Both Harrison and Kirkconnell later apologized for their comments and actions, and Harrison said he was stepping aside temporarily as host. Tuesday's statement did not say who would replace Harrison as host of the franchise. "The Bachelor" and its spin-off shows are among the most -watched and discussed shows on ABC, with a fan following known as Bachelor Nation.
Persons: Chris Harrison, Mark Makela, “ Chris Harrison, Rachael Kirkconnell, Matt James, Rachel Lindsay, Harrison, Kirkconnell Organizations: Boardwalk Hall, Miss America Pageant, REUTERS, ABC Entertainment, ABC, Warner Horizon, Bachelor, Nation, Thomson Locations: Atlantic City , New Jersey, U.S, Paradise, United States
Wall St dips as investors weigh G7 tax deal risk
  + stars: | 2021-06-07 | by ( Shashank Nayar | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. But analysts said immediate market implications would be minimal since the details remained to be negotiated over the coming months. Cinema operator AMC Entertainment added 18.8% after racking up a near 200% rise in the past two weeks, driven by retail investors. Its shares remained halted by noon. The S&P index recorded 54 new 52-week highs and no new low, while the Nasdaq recorded 124 new highs and 15 new lows.
Persons: Carlo Allegri, , Ken Polcari, , Rick Meckler, aducanumab Organizations: Reuters, New York Stock, REUTERS, Google, Apple Inc, Amazon.com Inc, Facebook Inc, Inc, Kace Capital Advisors, Cherry Lane Investments, Carnival Corp, Norwegian Cruise Line Holdings, Dow Jones, Nasdaq, AMC Entertainment, GameStop, NYSE Locations: Manhattan, New York City , New York, U.S, New Vernon , New Jersey, Taiwan, Philadelphia
Is there a labor shortage? What the May jobs report tells us
  + stars: | 2021-06-07 | by ( Greg Iacurci | ) www.cnbc.com + 0.00   time to read: +4 min
Spencer Platt | Getty Images News | Getty ImagesThe weaker-than-expected April jobs report fueled speculation of U.S. labor shortages and led some state officials to declare an early end to enhanced unemployment benefits. Labor force participationRising wagesPerhaps the most pronounced evidence of a labor shortage in the May jobs report is wage growth, especially in the labor and hospitality sector, according to Daniel Zhao, a senior economist at Glassdoor, a job and recruiting site. Unfortunately, the [May] report isn't going to end this debate about labor shortages. "Unfortunately, the [May] report isn't going to end this debate about labor shortages," Zhao said. To the extent that there are labor shortages, hiring challenges are likely to be temporary, according to economists.
Persons: Spencer Platt, Nick Bunker, aren't, Bunker, Daniel Zhao, Zhao, Josh Bivens, Erica Groshen, Obama Organizations: Getty, Labor, Economic Policy Institute, Republican, Cornell University, Bureau of Labor Statistics Locations: Wildwood , New Jersey, U.S, payrolls
Here's an option to protect your portfolio from inflation
  + stars: | 2021-06-07 | by ( Kate Dore | ) www.cnbc.com + 0.00   time to read: +2 min
Inflation is a top concern as investors fret about the rising cost of groceries, housing, gasoline and other living expenses. "Clients are asking about it," said certified financial planner Leona Edwards, wealth advisor at Mariner Wealth Advisors in Nashville, Tennessee. While I bonds currently offer a 3.54% annual rate, it may not be right for every portfolio, financial experts say. I bonds may work for risk-averse investors to diversify the bonds in their portfolio, said Virag Shah, portfolio strategist at Van Leeuwen Company in Princeton, New Jersey. These assets may also be good for those in a lower tax bracket with a large portfolio, perhaps from an inheritance.
Persons: Leona Edwards, Christopher Flis, Virag Shah, Flis Organizations: Mariner Wealth Advisors, ., Finance, Department, Consumer, Management, Treasury, Van, Van Leeuwen Company Locations: Nashville , Tennessee, Memphis , Tennessee, Van Leeuwen, Princeton , New Jersey
Stocks making the biggest moves midday: AMC, Carnival and Eli Lilly
  + stars: | 2021-06-07 | by ( Hannah Miao | ) www.cnbc.com + 0.00   time to read: +3 min
An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. AMC Entertainment — The meme stock jumped another 17% in heavy trading following an 83% rally last week. Meme stocks — Other meme stocks also rose on Monday, mirroring AMC's rally. Carnival, Norwegian and Royal Caribbean — Cruise stocks rose on Monday after Carnival confirmed plans for a July restart. Concrete – Shares of the concrete supplier soared 29% after the company announced it will be acquired by construction materials maker Vulcan Materials.
Persons: Eli Lilly, Koss, Biogen's, Morgan Stanley, — CNBC's Maggie Fitzgerald, Tanaya Macheel, Jesse Pound, Yun Li Organizations: Company, AMC Entertainment, The Securities, Exchange Commission, BlackBerry, GameStop, Royal Caribbean, Carnival, Royal, , Progressive, Vulcan Materials Locations: Branchburg , New Jersey, Royal Caribbean, American, U.S
A mechanical malfunction caused a ferry that travels from New Jersey to New York City to run aground in Brooklyn on Saturday, authorities said. The Seastreak Commodore ferry, which travels along the East River from Highlands, New Jersey, to Manhattan, took on water following the grounding, Gala said. "All of a sudden it swerved to the right and went into an inlet," an unnamed passenger told NBC New York. "The crew was telling us, 'Sit down sit down,' screaming, 'Sit down sit down.' Seastreak spokesman James Barker later said the ferry lost power and thus steering control, causing it to run aground.
Persons: Michael Gala, James Barker Organizations: New York Fire Department, U.S . Coast Guard, NBC New Locations: New Jersey, New York City, Brooklyn, Highlands , New Jersey, Manhattan, NBC New York, U.S
Portions of the U.S. were in the grip of a pre-summer heatwave Saturday as high temperatures swept across the upper Midwest and headed toward the Northeast. Historic high temperatures affected parts of Minnesota and Wisconsin, with St. Cloud, Minnesota (97), Eau Claire, Wisconsin (93), and Minneapolis-St. Paul (93) breaking decades-old records. The problem was dire in the Twin Cities, which is traditionally prepared for bitter cold but not record spring heat, said National Weather Service meteorologist Nick Carletta. The culprit was "a large, upper-level ridge that is anchored over the the Northern Plains and Upper Midwest," the weather service said in a public discussion.
Persons: Paul, Nick Carletta, Carletta, Andrew Cuomo, Cuomo, Heat Organizations: Weather Service, New York Gov, Liberty International Airport, LaGuardia Airport, Central Park's Locations: Midwest, Minnesota, Wisconsin, St, Cloud , Minnesota, Eau Claire , Wisconsin, Minneapolis, Twin Cities, Hennepin County, Montana, Plains, Upper, Newark , New Jersey, New York , New Jersey, Connecticut, Las Vegas
Trump has been working at his namesake tower "at least once a week," according to the NYT. When Trump descended from an escalator into the lobby of Trump Tower to announce the launch of his successful 2016 presidential campaign, the building accentuated his burgeoning political power to the world. According to The Times, the former president works "mostly alone" in his Trump Tower office, with two assistants and a small amount of body men. "It began the day I came down the escalator in Trump Tower, and it's never stopped. They wasted two years and $48 million in taxpayer dollars on Mueller and Russia Russia Russia, Impeachment Hoax #1, Impeachment Hoax #2, and it continues to this day, with illegally leaked confidential information."
Persons: Trump, Donald Trump, Michael Cohen, Trump's, Read, Donald Trump's, Tom LoBianco, , Allen Weisselberg, Hunt, it's, Mueller Organizations: Trump National Golf Club, Trump, The New York Times, New Yorker, The Times, Republican Party, New Locations: Manhattan, Bedminster , New Jersey, Florida, New Jersey, Bedminster, York, New York, Trump, Russia Russia Russia
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